Cisco and BroadSoft announced a definitive agreement for Cisco to acquire publicly-held BroadSoft Inc., headquartered in Gaithersburg MD. Pursuant to the agreement, Cisco will pay $55 per share, in cash, in exchange for each share of BroadSoft, or an aggregate purchase price of approximately $1.9 billion net of cash, assuming fully diluted shares including conversion of debt. The acquisition has been approved by the board of directors of each company.